Abu Dhabi aims to go high tech

Abu Dhabi is set to compete for a share of the global chipmaking economy, according to ATIC, the state-owned Advanced Technology Investment Company.

Zawya.com reports that Ibrahim Ajami, ATIC’s chief exec, has unveiled plans to invest in a state of the art advanced technology cluster on land near Abu Dhabi International Airport. He said Abu Dhabi would explore ways to attract other semiconductor companies.

“Abu Dhabi is a wealthy nation today because it sits on a lot of oil and gas resources,” Ajami told a press conference at Taipei’s Computex trade show. “But oil is finite and will one day run out. Our plan is to bring the semiconductor industry to Abu Dhabi one day.”

The oil-rich emirate is keen to diversify into knowledge based industries, but analysts have questioned Abu Dhabi’s ability to set up high-tech industries given its finite pool of human resources and “queries about its ability to take on more established manufacturing bases,” says the report.

But the industry got a head start when ATIC paid for a majority stake in Chartered Semi-Conductor of Singapore last year.